Mr. Patrick Artus,

In your March 21 article titled “Fears over Fed’s policy growing,” you wrote the size of capital flows to emerging countries in Asia and Latin America has been increasing markedly, which has led to an abnormally rapid appreciation of the currencies of emerging countries, such as Mexico, Brazil, South Korea, Thailand, Taiwan, Singapore, etc.

Are either of you aware that the U.S. dollar despite all the quantitative easing.. is still higher against all those currencies since 2007 (with exception of Thailand) and it's even slightly higher than Brazilian real? It was their complaining which led to coin the concept of currency wars. but they were talking about China, losing exports to the Chinese, and complaining about the money flowing into their country ­­― which they're guilty of accelerating by their public spending and high interest rates.

Mexico doesn't belong on this list. That currency is almost as crappy as the Korean won because the country has become a narco state. South Korean won most definitely does not belong on this list.

The won lost 10 percent compared to Thai baht in 2010 alone and is off 33 percent since 2008. The government has massively interfered to suppress the rate, as recently completely exposed by a U.S Treasury Report. It has managed to whine about is too, which is beyond hysterically funny.

Sincerely
Boguslaw P Balata